The Sudden Appearance of the Competing Offer

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Question:

Property is listed for 22 days, second showing today and clients decide to put in an offer, 2 hours after offer submission suddenly there is another competing offer! This happens 9 out of 10 times and It seems very convenient that every time my clients want to put in an offer, magically there is a competing offer.

Answer:

Sometimes, you are just receiving notification of your own Offer. How many are there? Check, you may find that they were just shopping your bid.

If you are lucky, it’s just yours. Now, the next question is whether this second offer is a phantom Offer!

If you are not pleased with this, have a clause in your Offer which terminates the Offer the moment they shop you bid.

If you want to do this you have to remove the seals from the document.

Brian Madigan LL.B., Broker

www.OntarioRealEstateSource.com

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